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The 2024-25 FAFSA was redesigned from prior year FAFSAs and the U.S. Department of Education will be releasing small numbers of FAFSAs to colleges and state education agencies during the second half of March. The number of FAFSAs released will gradually increase into April. Penn College expects to receive the vast majority of 2024-25 FAFSAs submitted by the end of April.
In order to be considered for federal and state aid – and some scholarships – you must complete the Free Application for Federal Student Aid (FAFSA) each year. We encourage every eligible student to file a FASFA, regardless of whether you think you will qualify for any aid. The U.S. Department of Education administers the online FAFSA and millions of students complete the FAFSA each year.
FAFSA Completion Assistance
Submitting a Free Application for Federal Student Aid (FAFSA) is a must if you’re hoping to take advantage of federal and state grants, federal loans, and some Penn College scholarships. Unsure where to start? Work with a member of our experienced team who will walk you through how to complete this important aid application.
FAFSA Tips
- Remember to designate Penn College as the recipient of your FAFSA by using our federal school code: 003395.
- The Penn College priority submission deadline is April 5 for the 2024-25 FAFSA year. We encourage you to complete the FAFSA as early as possible.
- The 2024-25 FAFSA is needed for students starting or returning for Summer or Fall 2024 and/or Spring 2025.
- Below are a few Federal Student Aid (FSA) videos to help you prepare:
- The 2024-25 FAFSA uses income from year 2022.
Parent Information
Most students under the age of 24 will need to include information about their parent(s) on their FAFSA, even if they live separately or their parent(s) will not help them financially.
More information about dependent and independent students from Federal Student Aid.
What if your parents are divorced or separated or never married?
More information about which parent(s) to include for the 2024-25 FAFSA, from Federal Student Aid.
FSA ID/StudentAid.gov Account
You and, if needed, a parent, sign your FAFSA electronically using the FSA ID. If you do not have a FSA ID/StudentAid.gov account , you should create one at least 1-3 weekdays before you start your FAFSA. The same is true for all FAFSA contributors - each contributor needs their own FSA ID/StudentAid.gov account. Create an account.
Financial Aid Direct Data Exchange
The Financial Aid Direct Data Exchange (FA-DDX) allows FAFSA contributors to give consent and approval for the IRS to securely provide federal tax information to the U.S. Department of Education. The FA-DDX:
- Simplifies your FAFSA completion process
- Reduces the odds of error on your FAFSA
- Significantly reduces the likelihood that your FAFSA is selected for Federal Verification
Special Circumstances
Did your family experience a significant reduction in income since calendar year 2022? As a result, the financial data on the 2024-25 FAFSA may not reflect your family’s recent or current financial situation. This could be because of a job loss, reduced wages, divorce, separation, or another reason.
If you're an accepted or current student and your family’s 2023 or 2024 total income (both taxable and non-taxable) is significantly lower than it was in 2022, let's have a conversation to help us better understand your family's circumstances and determine if a FAFSA adjustment is possible. Please contact us with any questions.
Unusual Circumstances
Students who answer ‘No’ to all the FAFSA dependency questions and have no contact with their parent(s) because of parental abuse, abandonment or related reasons cannot complete their FAFSA with parental information. The U.S. Department of Education defines these situations as ‘unusual circumstances’ and authorizes colleges to further discuss these circumstances with students. With appropriate documentation, the Financial Aid team can process a ‘dependency override’ on the students’ FAFSAs which results in the students considered as ‘independent’ for federal financial aid purposes.
Note that the following student circumstances are not considered as unusual circumstances:
- Live separate from parents or are not financially dependent on their parents
- Are not claimed as a dependent by their parents on a tax return
- Parents are unwilling or unable to take out a loan or help fund the cost of education
- Parents are reluctant to provide their information on the FAFSA
If you believe you have an unusual circumstance and you have no contact with your parent(s), please contact the Financial Aid team.
Learn More
Explore the links below for additional resources to help before and after completing your FAFSA.
- Review FAFSA information from the U.S Department of Education.
- See Aid Notification for details on what to expect after you’ve filed your FAFSA.
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